Portsmouth Tennis Academy Ltd - Abbreviated accounts 16.1

Portsmouth Tennis Academy Ltd - Abbreviated accounts 16.1


083851831.4.1531.3.1631.3.16Company accountsPrivate Limited CompanyFYtruefalsetruefalsetruefalsetruefalseOrdinary1.00000B Ordinary1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure083851832015-03-31083851832016-03-31083851832015-04-012016-03-31083851832014-03-31083851832014-04-012015-03-31083851832015-03-3108385183ns12:England2015-04-012016-03-3108385183ns14:PoundSterling2015-04-012016-03-3108385183ns7:Director12015-04-012016-03-3108385183ns7:OrdinaryShareClass12015-04-012016-03-3108385183ns7:OrdinaryShareClass22015-04-012016-03-3108385183ns5:PlantMachinery2015-04-012016-03-3108385183ns7:OrdinaryShareClass12016-03-3108385183ns7:OrdinaryShareClass12015-03-3108385183ns7:OrdinaryShareClass22016-03-3108385183ns7:OrdinaryShareClass22015-03-3108385183ns7:Director12015-03-3108385183ns7:Director12014-03-3108385183ns7:Director12014-04-012015-03-3108385183ns7:Director12016-03-3108385183ns7:Director12015-03-31
DRAFT
REGISTERED NUMBER: 08385183(England and Wales)















ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

PORTSMOUTH TENNIS ACADEMY LTD

PORTSMOUTH TENNIS ACADEMY LTD (REGISTERED NUMBER: 08385183)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016

DRAFT



Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 3

PORTSMOUTH TENNIS ACADEMY LTD (REGISTERED NUMBER: 08385183)

ABBREVIATED BALANCE SHEET
31 MARCH 2016

31.3.16 31.3.15
Notes £    £    £    £   
DRAFT
FIXED ASSETS
Tangible assets 2 108,384 97,868

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 142,831 82,851
Cash at bank 3,000 19,882
147,831 104,733
CREDITORS
Amounts falling due within one year 3 65,558 51,428
NET CURRENT ASSETS 82,273 53,305
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,657

151,173

CREDITORS
Amounts falling due after more than one
year

3

195,898

177,449
NET LIABILITIES (5,241 ) (26,276 )

CAPITAL AND RESERVES
Called up share capital 4 11 11
Profit and loss account (5,252 ) (26,287 )
SHAREHOLDERS' FUNDS (5,241 ) (26,276 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

PORTSMOUTH TENNIS ACADEMY LTD (REGISTERED NUMBER: 08385183)

ABBREVIATED BALANCE SHEET - continued
31 MARCH 2016

DRAFT

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved and authorised for issue by the Board of Directors on 13 June 2016
and were signed on its behalf by:





Mr K J Baker- Director


PORTSMOUTH TENNIS ACADEMY LTD (REGISTERED NUMBER: 08385183)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
DRAFT

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements show a net liability position at the balance sheet date. The company is
dependent on the continued support of its bankers. The director is of the opinion that the bank will
continue to support the company. Additionally, the company has, since the the balance sheet date,
returned to a net assets position. The director, on this basis, has prepared the financial statements on
the going concern basis.

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance
with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 25% on reducing balance and over the period of the lease

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Stock is valued on a first in first out basis.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis
over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to the profit and loss account in the period to which they
relate.

Grants
Capital grants received are recognised in the profit and loss account on the basis of there useful
economic life.

Revenue grants are taken to the profit and loss account, when entitlement of the grant has been
achieved.

PORTSMOUTH TENNIS ACADEMY LTD (REGISTERED NUMBER: 08385183)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2016
DRAFT

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015 110,815
Additions 20,240
At 31 March 2016 131,055
DEPRECIATION
At 1 April 2015 12,947
Charge for year 9,724
At 31 March 2016 22,671
NET BOOK VALUE
At 31 March 2016 108,384
At 31 March 2015 97,868

3. CREDITORS

Creditors include an amount of £ 192,481 (31.3.15 - £ 189,101 ) for which security has been given.

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.16 31.3.15
value: £    £   
10 Ordinary £1 10 10
1 B Ordinary £1 1 1
11 11

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2016 and
31 March 2015:

31.3.16 31.3.15
£    £   
Mr K J Baker
Balance outstanding at start of year 69,929 12,171
Amounts advanced 54,529 61,966
Amounts repaid (3,972 ) (4,208 )
Balance outstanding at end of year 120,486 69,929

Interest is being charged at the official rate of interest on amounts owed by Mr K J Baker to the
company. Interest paid by Mr K J Baker on the outstanding balance during the year is £2,814 (31.3.15:
£1,316).